Schock v. Lesley

Citations

• 4 Del. Ch. 96

Syllabus

<p>L. sold a .farm to S. taking, as the consideration, an assignment of a mortgage by a third party for $4500, payable in nine equal installments. S. also gave his own bond and mortgage on the land purchased from Lesley for £500, to secure the first three installments of the $4500 mortgage, which L. gave S. a power of attorney to collect. At the time of the assignment there was accrued interest due upon the assigned mortgage amounting to $405. The $1500 was collected from S. and then the mortgage foreclosed and the land sold under execution, yielding an amount, applicable to the mortgage, of less than the balance due. S. claimed to be reimbursed, out of the proceeds of sale, both the $1500 paid and the accrued interest. Held, that upon the terms of the contract, S. was bound as principal for the $1500, but that the accrued interest was absolutely reserved by him and that, the proceeds of the execution being applicable to the interest in the order of time, he was entitled to receive it out of them.</p> <p>The party in whose favor a decree was made for the payment of money, having failed to pay costs decreed against him, in previous suits concerning the same subject matter between the parties, the collection of a like amount of the decree would on proper application be stayed until the costs should be paid.</p> <p>Quere. Where the depositions of two witnesses are taken under one commission, is it competent for the party, in whose behalf they were taken, to read the deposition of one witness without that of the other witness ?</p>